Guideline Value for Kanakadara Nagar 3rd Street

Kanakadara Nagar 3rd Street guideline value

The current guideline value of Kanakadara Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO and is classified as Residential Class II Type - II.

How the guideline value of Kanakadara Nagar 3rd Street has changed

The guideline value for Kanakadara Nagar 3rd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision.

Between the revisions, the changes were as follows: from 2007 to 2012, there was an increase of 500%. The value then decreased by 33% from 2012 to 2017. Following that, there was a substantial increase of 49% from 2017 to 2023, and finally, a 10% increase from 2023 to 2024. The register has no figure for this street for the years 2002 and 2003.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for Kanakadara Nagar 3rd Street is below this median.

• Kanakadara Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kanakadara Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kanakadara Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kanakadara Nagar 3rd Street?

The Kanakadara Nagar 3rd Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Valasaravakkam

The guideline value is a standard used to assess the value of properties for registration purposes. When buying or selling property in Valasaravakkam, this value helps determine the applicable stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. Understanding the guideline value can help in planning financial aspects related to property transactions.

Frequently asked questions

What is the current guideline value of Kanakadara Nagar 3rd Street?

The current guideline value of Kanakadara Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Kanakadara Nagar 3rd Street?

Kanakadara Nagar 3rd Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Virugambakkam Sub Registrar Office covers Kanakadara Nagar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000.